Paisabazaar, a part of the PB Fintech Group, has achieved an annualized loan disbursal rate of over Rs 15,000 crore in March 2023, registering a 76% YoY growth in loan disbursals, and disbursing Rs.11,619 crore in FY 2023. Credit cards issued through Paisabazaar have also grown by more than 180% YoY, reaching an annualized rate of over half a million credit cards issued in March 2023. To help build credit awareness, Paisabazaar offers consumers free credit reports and scores from all four credit bureaus. According to Paisabazaar, over 3.49 crore consumers from 823 cities and towns across India had accessed their free credit report on Paisabazaar by the end of the financial year. Paisabazaar has also focused on building stronger and more sustainable margins, through improved processes, better offerings, and higher conversions. The company has been profitable since December 2022, ahead of its guidance.
Paisabazaar, a part of the PB Fintech Group, is an online platform that offers personalized financial services such as loans, credit cards, insurances, and more. The platform caters to consumers across all credit segments and has around 65 partnerships with large banks, large NBFCs, credit bureaus, and fintech lenders to offer a wide choice of lending products for consumers on its platform. Paisabazaar has earned the trust of around 35 million consumers over the last nine years.
Yashish Dahiya is the Chairman and CEO of PB Fintech. He stated that Paisabazaar has fundamentally grown with better margins and achieved profitability, becoming stronger than before. With a consumer-led focus and strong business fundamentals at its core, he said, the market opportunity for Paisabazaar is massive.
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